These two free webinars are available until August 31st. Hurry up!

Upgrade your knowledge on recent developments in Accounting Standards for Private Enterprises (ASPE) and in International Accounting Standards Board (IASB), the IFRS Interpretations Committee and other regulators with these two webinars, which are available until August 31st, 2019.

Take note that these webinars were hosted during Fall of 2018, some information might have changed since then. The information sessions are offered in French only.

Accounting Standards for Private Enterprises (ASPE)

We will be providing an overview of the following:

  • New or revised accounting standards, including amendments to Section 1591, Subsidiaries, and Section 3051, Investments, relating to the cost method;
  • The projects and activities of the Canadian Accounting Standards Board, including the one on redeemable shares issued in a tax planning arrangement;
  • Some practical issues regarding cryptocurrencies.

Each participant who attends the webinar will be able to take a test at the end of the session.

A training certificate, which applies to training hours recognized by the Quebec CPA Order (OCPAQ), will be given to each participant who passes the test.

ASPE Webinar

International Financial Reporting Standards (IFRS)

We will be providing an overview of the following:

  • Newly published or amended International Financial Reporting Standards (IFRS);
  • Some practical issues, including those related to cryptocurrencies;
  • The IASB’s work plan;
  • Regulatory developments.

Each participant who attends the webinar will be able to take a test at the end of the session.

A training certificate, which applies to training hours recognized by the Quebec CPA Order (OCPAQ), will be given to each participant who passes the test.

IFRS Webinar

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Marco Perron
Partner | CPA, CA, CRMA | Assurance

Private and public sectors are both entering the era of the cloud computing. The security of their operations should be ranked among their top priorities.

Digital technologies create extensive data confidentiality and information system security challenges for both governments and businesses. However, these developments also offer numerous benefits.

Easier management

Implementing cloud technology is helping governments to improve business flexibility despite their back-end silo systems. This makes it easier for experts and stakeholders to collaborate.

Adopting clout technology makes it easier for organizations and businesses to manage digital technology and IT security.

Security first and foremost

Operating in the field of cyber security requires the correct implementation of security standards and world leading best security practices in order to meet clients’ expectations.

“At the moment, we are the first company in Canada to receive Government of Canada security authority written approval to operate Protected A and Protected B systems in a public cloud environment,” says Greg Janson, Manager.

Peace of mind in the cloud

What we are offering is similar to the self-service car offer: it’s like renting a car. It’s simple and efficient and meets your needs, whereas owning a car implies having to maintain it by changing parts when needed, which adds costs, it’s time consuming and, in the end, defeats the purpose. It’s the same for cloud migration technology.

Businesses and organizations do not want to allocate a complete department’s resources to create their own technology and servers.

You just need to access the technology and that’s what we are offering to the government. Easy, simple and secure. We are taking care of this, so clients can focus on their core business.

Our in-house team members offer a completely holistic cyber-security practice committed to delivering security solutions from system conception to disposal, safeguarding your most crucial organizational assets and enabling you to fulfil your obligations.

Our solutions

We offer cloud migration business services to governments and public companies. That includes unique methodologies, system architectures, communications and reports that quickly and easily put you in the picture, in detail and within the larger context of your operation, identifying gaps and risks, and proposing effective mitigation measures.

Our team of experts will help you solve your challenges by designing and implementing a matrixed, holistic cyber-security program that meets your expectations.

About Raymond Chabot Grant Thornton Consulting Inc.

RCGT Consulting Inc. provides a comprehensive range of services. Our primary focus areas include: internal audits, cyber security, audits of contributions, digital forensics and forensic accounting, management consulting, and other general consulting services such as cost reductions and process improvement. Our client base includes the federal government, provincial governments, municipal sectors, universities and colleges, and medium to large enterprises.

09 Jul 2019  |  Written by :

Marco Perron is a Partner at Raymond Chabot Grant Thornton. He is your expert in assurance for the...

See the profile

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Mandatory Sales Tax System Registration for Certain Non-resident Suppliers in Saskatchewan: A Reminder

Mandatory registration: Changes retroactive to april 1, 2017

While more than a year has passed since the amendments to Saskatchewan’s provincial sales tax (PST) system were assented to, it’s important to remember the main features of these changes since, even today, they have a significant impact on some commercial entities doing business in that province.

As a reminder, on May 30, 2018, Royal Assent was given to the amendments proposed by the Government of Saskatchewan regarding the PST registration criteria for non-resident suppliers. These changes, effective retroactively to April 1, 2017, broaden the tax base to include non-resident suppliers who make sales of tangible property and certain other taxable services to consumers in Saskatchewan.

Read the document below for more information.

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In recent weeks, family law has been the topic of a Quebec government public consultation. To maximize this necessary reform, it must include a review of family taxation. The reason is quite simple: there is a disconnect between tax rules and the reality of today’s families.

An in-depth review is needed

It’s obvious that the Canadian tax system is simply outdated as it applies to both our SMEs and our families. In fact, our country’s tax system has not undergone an in-depth review since the 70s. Today, the Canadian and Quebec family taxation system is simply a patchwork of measures that have been added over time without changing rules or making any in-depth amendments to the legislation. The result is ongoing involuntary breaches of neutrality.

The neutrality of the tax system for families was reviewed by Raymond Chabot Grant Thornton and the UQAM’s École des sciences de la gestion (ESG UQAM) in an innovative study published in September 2018. The study showed that in more than 70% of the situations studied, the tax rules are not neutral depending on a family’s social profile and economic class, and the couple’s legal status. One of the unfortunate consequences of these breaches of neutrality is that Canadian and Quebec families are forced to make choices based on tax implications rather than on the needs of the family’s situation.

Consider for example governments’ main incentives such as the TFSA, RRSP, RESP and RDSP. When deciding on a type of savings, families with limited financial resources must make a decision regarding these programs on the basis of tax rules, to the detriment of their real needs, limiting their financial flexibility. Moreover, consider that family businesses are still faced with tax inequity on an intergenerational business transfer at the federal level. Provincially, family businesses must also deal with transaction restrictions such as the requirement to undertake a total, rather than a partial, business transfer or the inability to retain an interest after the sale.

Quebec and Ottawa must both work on this

The Quebec government can play a key role in the Canadian family taxation reform. The current consultation on family law initiated by the Minister of Justice and Attorney General of Quebec, Sonia Lebel, is an opportunity to look at potential options regarding tax changes for a more extensive review of family-related measures. By changing the tax rules so that they are better suited for today’s families and no longer impact taxpayers’ choices, Quebec would be sending a clear message to Ottawa to harmonize measures and reduce the gaps between tax policies and family dynamics.

Our study already identified several areas for consideration in the course of the current initiative.

For example, why not introduce a system based on family rather than individual income, implement a tax rate structure based on the size of the family, create a registered general savings plan (RGSP) or authorize the possibility of a rollover at the time of death to a trust established exclusively for a dependent child?

The Quebec government and Ottawa should both be encouraged to review family taxation so that it’s more representative of our Quebec and Canadian values, such as equity and equality. It’s in everyone’s interest.

Let’s take action together!

This article appeared in La Presse + on June 25, 2019 (in French).